I don't think that has to happen for $1M bitcoin.
It can happen if only a small fraction of the world's wealth decides that they want a non fiat based CDS on USD.
The severe pain that's coming is unavoidable but I believe it will take longer than 3 months to play out.
I like that as a Bitcoiner I don't have to hope for the collapse of the fiat system to be right. It's different to being a gold bug in that bitcoin can operate & integrate with the fiat system if they allow it. Bitcoin changes things but it doesn't require complete destruction of the old system first.
I agree that musing over the price of bitcoin is largely unproductive, even if it is entertaining.
Brisket
npub1jm…p6xcq
2023-03-19 01:20:45
in reply to nevent1q…4yvt
Author Public Key
npub1jmy8weweqzckna0amz7pn0uhhkxx693l7st23829ewmu43yvjsesfp6xcqPublished at
2023-03-19 01:20:45Event JSON
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"content": "I don't think that has to happen for $1M bitcoin.\n\nIt can happen if only a small fraction of the world's wealth decides that they want a non fiat based CDS on USD.\n\nThe severe pain that's coming is unavoidable but I believe it will take longer than 3 months to play out.\n\nI like that as a Bitcoiner I don't have to hope for the collapse of the fiat system to be right. It's different to being a gold bug in that bitcoin can operate \u0026 integrate with the fiat system if they allow it. Bitcoin changes things but it doesn't require complete destruction of the old system first.\n\nI agree that musing over the price of bitcoin is largely unproductive, even if it is entertaining.",
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